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Free Access1.1288 is the trigger for.........>
EURO-DOLLAR TECHS: 1.1288 is the trigger for gains:
*RES 4: 1.1376 High Jul 1
*RES 3: 1.1323/44 200-dma / Low Jun 25
*RES 2: 1.1302 50% retracement of the Jun 25-Jul 9 sell-off
*RES 1: 1.1288 High Jul 5
*PRICE: 1.1271 @ 03:41 GMT July 15
*SUP 1: 1.1238 Low Jul 12
*SUP 2: 1.1193 Low Jul 9 and key support
*SUP 3: 1.1181 Jun 18 low
*SUP 4: 1.1149 2% lower Bollinger band
EURUSD retains an overall bullish tone. Price action is back above the 100-dma
and testing resistance offered by the former channel support at 1.1276. Last
Tuesday's candle pattern is a bullish engulfing reversal, suggesting a shift in
sentiment has occurred favouring bulls. Resistance is at 1.1288 where a break
would confirm a resumption of gains and open the 200-dma at 1.1323 as a first
objective. Support lies at 1.1238 from the Jul 12 low.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.